German renewables developer ABO Wind AG (ETR:AB9) has sold the project rights to a 200-MW portfolio of two solar parks in South Africa to local solar power producer Sola Group.
The sale agreements for the projects were signed in 2021 and became binding after the buyer reached financial close, ABO Wind said on Wednesday. The South African group announced earlier this week it has secured all needed funds to realise the schemes.
The two photovoltaic (PV) parks, each with a capacity of 100 MW, will be supplying electricity to titanium products maker Tronox Mineral Sands. The latter has signed a power purchase agreement (PPA) with Sola Group that will enable it to source green electricity for five of its mines and smelters in South Africa’s Western Cape province.
Sola Group is getting ready to start construction activities and plans to bring the plants online in 2023. A total of 387,000 PV panels mounted on single-axis trackers will form the complex.
According to the statement, the schemes are Africa's largest renewable energy projects financed through a corporate PPA.
ABO Wind is currently working on a 4-GW pipeline of wind and solar projects in South Africa and will take part in upcoming tenders with several of those schemes, it said.
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